Harrison Steans remembered for decades of leadership in Chicago banking

Steans, a former LaSalle Bank chairman who also led the financial crisis recapitalization that saved Taylor Capital, died on Tuesday. He was 83.
Source: American Banker

Optimal Blue joins engage.marketing for the second year as a gold sponsor

Secondary marketing automation platform provider Optimal Blue has signed on as a gold sponsor of HousingWire’s engage.marketing summit for the second year. The summit, to be held June 13-14 in Charlotte, North Carolina, gathers mortgage marketers from around the country to gain insights from industry leaders, network with peers and learn how to Play to Win in today’s purchase market.
Source: HousingWire Magazine

Small banks about to catch break on deposit insurance premiums

The FDIC reserve fund is nearing a threshold that will trigger a temporary reprieve on deposit insurance premiums for banks with less than $10 billion of assets.
Source: American Banker

Former bank chief admits to years of filing false tax returns

Victor Karpiak stepped down as CEO of First Financial in 2013 after years of wrangling with a prominent activist investor.
Source: American Banker

FHFA releases final rule on Fannie, Freddie single security

Following years of planning, the Federal Housing Finance Agency announced that the Uniform Mortgage-Backed Security is almost here. The FHFA issued its final rule for the single mortgage-backed security that will be issued by both Fannie Mae and Freddie Mac.
Source: HousingWire Magazine

FHFA rule requires Fannie and Freddie to align cash flows on MBS

The new regulation, codifying requirements already in practice, is meant to help the mortgage giants prepare for the adoption of a uniform security in June.
Source: American Banker

ATTOM: Lending for home flipping climbs to 11-year high in 2018

Throughout 2018, home flip lending volume rose by 8%, coming in at an 11-year high, according to ATTOM Data Solutions’ latest U.S. Home Flipping Report. ATTOM Data Solutions Chief Product Officer Todd Teta said with mortgage rates remaining strong and people staying in their homes longer, we have started to see a bit of a flipping slowdown.
Source: HousingWire Magazine

Software firms MX, Personetics to meld clean data, AI-based analytics

The companies have teamed up on a product to help banks, especially small ones, give customers more accurate insights into their own financial health.
Source: American Banker

Square's ILC bid is a regulatory end run

By applying to become an industrial loan company, the fintech would be able to use insured deposit accounts as a cheap source of funding without having to comply with the tough rules banks face.
Source: American Banker

Freddie Mac: Mortgage rates hold steady, hinting at favorable spring homebuying season

After falling for three consecutive weeks, mortgage rates remained virtually stagnant, according to the latest Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said the general decline in rates, combined with rebounding pending home sales, hint at a strong spring homebuying season.
Source: HousingWire Magazine